Yep Jarrett, unfreakin’ believable is the general reaction i see and it continues to wow the more you find out! I always new deep down something was very misaligned in the modern world and it was only when i began to READ about this system of “well its not really banking” that the “unfreakin’ believable” soaked my psyche that i really got it. Unfreakin’ believable IS precisely what i have been thinking ever since. For me it was the first installment of The Zeitgeist films in 2008, ever since i have all but stopped watching the idiot box and spent innumerable hours researching and discovering “why is the glue that holds this system become so toxic” bingo!!!

I heard you speak at the Moving Beyond Capitalism conference last July/August in San Miguel de Allende. I”m now preparing to present some of the ideas I got there, including yours on public banking, to a Quaker yearly meeting in a couple of weeks. Is it possible to get some of they short videos like How Money is Created, An Intro to Public Banking, etc., on DVD so I can show them there? Thanks.

I watched video 4, The Public Bank Solution. My question is when the Public Bank lends, does it create the money and receive the payments? Somehow I got the impression that it “partners” with a Federal Reserve member bank.

I think you may be partly correct, as their 2015 Annual Report talks about “$679 million of liquidity through BND’s secured and unsecured federal funds lines, an increase of $60 million”. However, this represents less than 10% of their liabilities, so I think it’s fair to say that they create most of the money they loan out by making entries in the Balance Sheet. Although this is no different from what the Federal Reserve Banks do, the main point Ellen makes is that the BND is owned by the State so all the interest and fees go to the State and not the Fat Cat bankers and this income can be applied to developing the State’s infrastructure rather than paying dividends to shareholders and bonuses to Fat Cat bankers. It is also worth noting that with good oversight, a State bank will not indulge in risky investments such as debt swaps and other foolish derivatives.

The problem I have had in understanding exactly how the BND functions is that answers that are not definitive leave much unspecified. Answers that contain phrases such as, “I think you may be partly correct”, or “I think it’s fair to say…”. or “they create most of the money they lend out”, or “the main point is…”, or “it is worth noting” are inappropriate and inconclusive. These are invariably the kind of answers I have been getting about the BND for years.

I am publishing a complete description on OpEdNews today or tomorrow for the functioning of a bank that could be defined as a public bank. But it may or may not work like the BND since that bank’s functions have not been completely described.

948. May 17, Interview on Al Jazeera, in which Ellen Brown gives her critique of President Trump’s approach to infrastructure. Part of coverage of the U.S. Chamber of Commerce’s “Infrastructure Week”. Watch it here.

947. May 13, Bring On the Power of a Public Bank for CA: People’s Forum, L.A., 3 pm. Info here. At the beautiful PUENTE Learning Center DTLA in Boyle Heights: https://www.puente.org/locations/

946. May 2, presentation, The Web of Debt and the Deep State: How do we break Free? Info here.